Tax rate in Coconut Creek set to decrease

TAX RATES

Broward County property appraiser announces proposed tax rates

The property tax rate in Coconut Creek is proposed to be lower than last year, according to the Broward County Property Appraiser's office.

The proposed tax rate for city operations for 2011 is 6.3857, compared with 6.4036 in 2010.

This means that for every $100,000 in property value, residents will pay $638.57 in taxes. That's in addition to $741.90 per $100,000 for the school board and $518.60 for the county commission.

The city's revenue from property taxes in 2011 is estimated at $2,621,320,637, compared with $2,600,495,537 in 2010, a difference of 0.8 percent.

Most South Florida cities get about 35 percent of their revenue from property taxes, so declining home values cause cities to lose money. Residents are then faced with higher taxes and fees or reduced services.

Tax bills vary widely, even in a particular city or neighborhood, because they depend on so many factors, including whether the homeowner qualifies for exemptions that lower the bill.

And in a municipality whose values are generally faring poorly, one neighborhood might be on the upswing, or vice versa.

With a rate of 6.3857, Coconut Creek should collect the same amount of money as last year.

Budgets are being decided now and must be in place by Oct. 1. By law, cities in Florida cannot have unbalanced budgets.